|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||62.84 - 63.52|
|52-week range||48.65 - 68.70|
|Beta (3Y monthly)||1.10|
|PE ratio (TTM)||10.93|
|Earnings date||14 Nov 2019|
|Forward dividend & yield||3.50 (5.53%)|
|1y target est||76.93|
* European shares fall slightly, STOXX 600 down 0.2% * Defensive stocks outperform: healthcare, food & bev, utilities top risers * STOXX 600 slipped from 6-week high on Monday * Oil slightly lower after massive jump on Saudi attacks on Monday * Wall Street futures flat Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Danilo Masoni. Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org EU BANKS: VICIOUS CIRCLE WITH NEGATIVE RATES (1158 GMT) Five years on and no respite for euro-zone banks from negative interest rates and future looks no better with more rate cuts on the horizon.
The proportion of Irish residential investment property loans in arrears over 90 days rose for the second successive quarter to the highest level in more than a year, central bank data showed on Thursday. The amount of so-called buy-to-let loans in arrears rose to 15.2% in the second quarter from 14.6% in the first three months of the year when the quarterly rate rose for the first time since it peaked at 22.1% in 2014.
* STOXX 600 up 0.3%, extending last week's gains * FTSE 100 rallies 1.3% as sterling falls * Volumes low due to U.S. holiday * Defensive sector - utilities, telecoms and healthcare - best performers Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. UK STOCKS: NAY! (1233 GMT) Lingering Brexit worries make UK equities unattractive, as per JPMorgan equity strategists, who are bullish on U.S. and Japanese stocks and neutral on euro-zone names despite rising recession worries. The bank expects yields to rise higher from here and thus expects the defensive UK indexes to underperform -- "UK is a defensive, high-dividend yielding market which might have a problem if bond yields move higher into year end." JPMorgan equity team, led by Mislav Matejka, says the domestic names will remain under pressure versus exporters as "the politics over the next months is likely to make them a lose-lose trade".
* STOXX 600 up 0.3%, extending last week's gains * Volumes low due to U.S. holiday * China, US slap more tariffs on goods in tit-for-tat spat * Defensive sector - utilities, telecoms and healthcare - best performers * Airlines gain amid hopes of sector consolidation Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Josephine Mason. Reach her on Messenger to share your thoughts on market moves: email@example.com THE BANKS JUST CAN'T HANDLE THIS (1010 GMT) The more negative, for longer, the worse ... That's a line in BofA Merill Lynch's latest research note on European banks in the era of negative rates "forever" as the ECB gets ready to cut interest rates by as much as 20 bps to -0.60%.
* European stocks end sharply lower after rollercoaster day * ECB signals rate cut in September, more QE, triggering brief rally * Stock gains wiped out after ECB's Draghi quashes talk of rate cut today * EZ banks briefly rallied on tiered rate hopes, but gains evaporated * German business morale deteriorates * CAC 40 outperformed broader market on solid updates from LVMH, Schneider Electric * Nokia rose 7% after surprise Q2 profit jump * Cobham +35% after Advent agrees to buy for $5 billion Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org CLOSING SNAPSHOT: MARIO GIVETH AND THEN HE TAKETH AWAY (1558 GMT) The ECB's bank's policy statement delivered much of what the market had expected, signalling a September rate cut, changes to inflation targets, more QE and a gift to banks with possible tiered deposit rates and the ensuing euphoria sent euro-zone stocks rallying, led by banks.
* European stocks rise after ECB signals potential rate cuts * EZ banks rally on tiered rate hopes * German business morale deteriorates * Cars go into reverse after Nissan news * CAC 40 outperforms on solid updates from LVMH, Schneider Electric * Nokia rises 7% after surprise Q2 profit jump * Cobham +35% after Advent agrees to buy for $5 billion Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://email@example.com NOW MARIO, GIVE US THE DETAILS (1237 GMT) It looks that the ECB statement didn't disappoint anyone, sending euro-zone shares shooting higher across the board, as the euro took a turn lower.
* European stocks rise after ECB signals potential rate cuts * EZ banks rally * German business morale deteriorates * Cars go into reverse after Nissan news * CAC 40 outperforms on solid updates from LVMH, Schneider Electric * Nokia rises 7% after surprise Q2 profit jump * Cobham +35% after Advent agrees to buy for $5 billion Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Reach him on Messenger to share your thoughts on market moves: rm://firstname.lastname@example.org MARIO DELIVERS! (1220 GMT) Markets have spiked higher after the ECB kept rates unchanged as expected, but opened the door to future rate cuts and more bond buys, while also providing some respite to the banks with a possible tiered deposit rate.
Press Release Outside trading hours - Regulated information* Prague, Brussels, 31 May 2019 – 5.45 p.m. CESTČSOB becomes sole owner of Czech building society ČMSS after acquiring the 45% stake held by BSHČSOB has received approval from the Czech anti-monopoly office and is thus able to close the transaction announced on 15 April 2019. In this announcement, ČSOB, the Czech banking division of KBC Group, and Bausparkasse Schwäbisch Hall (BSH) confirmed that they had agreed on ČSOB acquiring BSH’s 45% stake in the Czech building society Českomoravská stavební spořitelna (ČMSS), subject to anti-trust approvals. ČSOB has acquired BSH’s 45% stake in ČMSS for a total consideration of 240 million euros, representing a 1.54 multiple of the 2018 standalone net book value and a 9.20 implied multiple of 2018 net profit including discounted 2024 synergies. The transaction will have an impact of approximately –0.3 percentage points on KBC Group’s strong Common Equity Tier 1 ratio, which stood at 16% (fully loaded, Danish compromise) at the end of 2018. This will in turn lower KBC Group’s 2% M&A buffer to 1.70%. The revaluation of KBC’s 55% stake in ČMSS (in conformity with IFRS 3) will also lead to a one-off gain for KBC, estimated at approximately 80 million euros. The transaction makes ČSOB the only shareholder of ČMSS and consolidates its position as the largest home financing provider in the Czech Republic.Johan Thijs, KBC Group CEO, welcomed the successful closure of the transaction, stating: ‘Closing this deal allows KBC to confirm its position as a strong market leader in the Czech Republic. This acquisition marks our ambition to grow in our core markets and is an excellent business opportunity in terms of strengthening our Czech retail franchise. It’s also fully in line with our strategy to focus on our strong fundamentals: a healthy customer-driven bank-insurance business model, a strong risk profile, a robust liquidity position supported by a very solid and loyal customer deposit base in our core markets, and a comfortable solvency position that enables us to continue increasing lending to our customers and actively support the communities and economies in which we operate.’Petr Hutla, Senior Executive Officer for Credit Management (including ČMSS), and Member of the Board of Directors added: ‘ČSOB Group has become a leading expert in home financing. This transaction further strengthens our leadership position. It also allows us to continue developing a strategy whereby comprehensive care of our customers’ financial affairs is offered in one place, using solutions that match our customers’ wishes and dreams. Closer collaboration within our group means our employees will be able to better share their knowledge, enhancing our ability to cater for our customers’ needs.’ Notes for editorsČeskomoravská stavební spořitelna (ČMSS), also known in the Czech Republic as ‘the Fox’ (because of its mascot), is the largest building society in the Czech Republic. At the end of 2018, it had 4.5 billion euros (117 billion Czech koruny) in outstanding loans and 5.3 billion euros (137 billion Czech koruny) in deposits, representing a market share of 42% in building savings loans and 40% in building savings deposits.For more information, please contact:Patrik Madle, Spokesperson, ČSOB Tel.: + 420 602 530 639 – E-mail: email@example.comViviane Huybrecht, General Manager of Corporate Communication, Spokesperson, KBC Group Tel.: + 32 2 429 85 45 – E-mail: firstname.lastname@example.orgKurt De Baenst, General Manager, Investor Relations, KBC Group Tel.: + 32 2 429 35 73 – E-mail: email@example.com* This news item contains information that is subject to the transparency regulations for listed companies. KBC Group NV Havenlaan 2 – 1080 Brussels Viviane Huybrecht General Manager of Corporate Communication KBC Group Spokesperson Tel.: + 32 2 429 85 45 Press Office Tel.: + 32 2 429 65 01 (Stef Leunens) Tel.: + 32 2 429 29 15 (Ilse De Muyer) Tel.: + 32 2 429 32 88 (Pieter Kussé) E-mail: firstname.lastname@example.org KBC press releases are available at www.kbc.com or can be obtained by sending an e-mail to email@example.com Follow us on www.twitter.com/kbc_group Check this document's authenticity Attachment * 20190531_PB_CMSS_closing_ENG
In 2012 Johan Thijs was appointed CEO of KBC Group NV (EBR:KBC). First, this article will compare CEO compensation with compensation at other large companies. Next, we'll consider growth that the business demonstrates...
On 31 December 2018, KBC Group NV (EBR:KBC) announced its latest earnings update. Overall, it seems that analyst forecasts are fairly bearish, with profits predicted to drop by -2.0% nextRead More...
BNP Paribas reached an agreement with unions over a plan to cut as many as 2,500 jobs at its Belgian retail banking unit by 2021 as part of an effort to bring down costs. The bank expects most of the departures at BNP Paribas Fortis to come through attrition and it will offer an early retirement to 800 workers aged 58 and over, said spokesman Valery Halloy. In Belgium as elsewhere, retail banks are closing down branches as the growth of electronic banking means that fewer people visit local branches.
Press Release Outside trading hours - Regulated information*NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, OR JAPAN OR THEIR TERRITORIES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S., AUSTRALIAN, OR JAPANESE PERSONS OR OTHERWISE THAN TO PERSONS TO WHOM IT CAN LAWFULLY BE DISTRIBUTED. THE ANNOUNCEMENT OF A POTENTIAL ADDITIONAL TIER 1 TRANSACTION IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF KBC GROUP NV. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.Brussels, 27 February 2019KBC successfully places an Additional Tier-1 instrument for 500 million eurosKBC Group NV (“KBC”) yesterday placed 500 million euros in non-dilutive, Additional Tier-1 (AT1) securities (the “Securities”). There was considerable interest in the issue, which was 4 times oversubscribed. Johan Thijs, KBC Group CEO commented on the transaction as follows: ‘We continuously monitor our capital structure and our current portfolio of outstanding securities in light of market conditions. The issue of the Securities enables us to maintain an optimal capital structure and continue to support our already excellent solvency ratios. There was considerable interest in the issue of our euro-denominated CRD IV-compliant Additional Tier-1 instrument of benchmark size, which was 4 times oversubscribed. The success of the transaction emphasizes the trust of the market in KBC’s solid capital position and business model.’KBC is one of the best capitalised and well-positioned financial institutions in Europe. KBC’s common equity ratio under the Danish Compromise came to 16% fully loaded at the end of 2018, well above the minimum capital requirements set by the competent supervisors of 10.70% by 2019.This AT1 instrument will be 5-year non-call perpetual with a temporary write-down at 5.125% CET1 and an initial coupon of 4.75% per annum, payable semi-annual.The instruments were placed with institutional investors spread across Europe and Asia.The Securities were offered in minimum denominations of 200 000 euros and are expected to be rated ‘BB+‘ by Standard & Poor’s (“S&P”) and ‘Ba1’ by Moody’s. The Securities are expected to be issued on 5 March 2019. Application will be made for the Securities to be listed on Euronext Brussels.Bank of America Merrill Lynch, BNP Paribas, Credit Suisse, Goldman Sachs International, J.P. Morgan and KBC Bank were mandated as Joint Bookrunners and Joint Lead Managers for this transaction.Disclaimer The announcement of a potential additional tier 1 transaction shall not constitute an offer of securities for sale in the United States (or to U.S. persons). The Securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act") or the securities laws of any state of the United States or any other jurisdiction and the Securities may not be offered or sold within the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. The announcement of a potential additional tier 1 transaction is being distributed only to and directed only at (i) persons who are outside the UK, or (ii) persons who are in the UK who are (a) persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 or (b) otherwise, persons to whom it may otherwise lawfully be distributed. Furthermore this announcement is not addressed to any person (i) who is a retail client (as defined in Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EC (recast) (“MiFID II”)) or (ii) in Belgium to any “consumers” (consumenten/consommateurs) within the meaning of the Belgian Code of Economic Law (Wetboek economisch recht/Code de droit économique) dated 28 February 2013, as amended from time to time (the “Belgian Code of Economic Law”). The announcement of a potential additional tier 1 transaction shall not constitute an offer of Securities to the public in Canada. No prospectus qualifying the Securities for sale in Canada has been approved by any regulator or regulatory authority in Canada and the Securities may not be offered or sold in Canada or to residents of Canada except pursuant to an exemption from the prospectus requirements of, and otherwise in compliance with, all applicable securities laws in each relevant province or territory of Canada. The announcement of a potential additional tier 1 transaction is directed only at persons that are accredited investors and are permitted clients and should not be distributed to, or acted upon by, any other persons. MiFID II professionals/ECPs-only / No PRIIPs KID / FCA PI restriction – Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients only (all distribution channels). No PRIIPs key information document (KID) has been prepared as not available to retail in EEA. For more information, please contact:Kurt De Baenst, General Manager, Investor Relations, KBC Group Tel +32 2 429 35 73 - E-mail: firstname.lastname@example.orgViviane Huybrecht, General Manager, Corporate Communication/Spokesperson, KBC Group Tel +32 2 429 85 45 - E-mail: email@example.com * This news item contains information that is subject to the transparency regulations for listed companies. KBC Group NV Havenlaan 2 – 1080 Brussels Viviane Huybrecht General Manager of Corporate Communication KBC Group Spokesperson Tel.: + 32 2 429 85 45 Press Office Tel.: + 32 2 429 65 01 (Stef Leunens) Tel.: + 32 2 429 29 15 (Ilse De Muyer) E-mail: firstname.lastname@example.org Check this document’s authenticity at www.kbc.com/en/authenticity KBC press releases are available at www.kbc.com Follow us on www.twitter.com/kbc_group Stay up-to-date on all innovative solutions at www.kbc.com/innovation. Attachment * 20190227_AT1_closing_en
Press Release Outside trading hours - Regulated information*Brussels, 18 February 2019KBC discloses new ECB capital requirements KBC's capital remains well above the minimum requirementsKBC has been informed by the European Central Bank (ECB) of its new minimum capital requirements, which bring the combined CET1 requirement for KBC (under the Danish Compromise) to 10.7%. At the close of the fourth quarter of 2018, KBC’s CET1 ratio came to 16%, well above the new CET1 requirement. Following the Supervisory Review and Evaluation Process (SREP) performed for 2018, the ECB has formally notified KBC of its decision to maintain * the pillar 2 requirement (P2R) at 1.75% of CET1 * pillar 2 guidance (P2G) at 1.0% of CET1 The capital requirement for the KBC group is determined not only by the ECB, but also by the decisions taken by the various local competent authorities in KBC’s core markets, namely to: * increase the countercyclical capital buffer in the Czech Republic from 1.25% to 1.50% effective from 1 July 2019 * increase the countercyclical capital buffer in Slovakia from 1.25% to 1.50% effective from 1 August 2019 * introduce a countercyclical capital buffer in Bulgaria (0.5% in 2019 and 0.75% in 2020) * introduce a countercyclical capital buffer in Ireland (1.0% effective from 5 July 2019)That corresponds to an additional CET1 requirement of 0.45% at KBC group level (up from 0.35%).The National Bank of Belgium had already announced its capital buffers for Belgian systemic banks last year. For KBC, the capital buffer requirement is 1.5%, while the capital conservation buffer is 2.50% as from 2019. These buffers are held on top of the minimum CET1 requirement of 4.5% under Pillar 1.For KBC, this brings the overall CET1 requirement (under the Danish Compromise) to 10.7% (10.6% last year), with an additional Pillar 2 guidance of 1%. KBC clearly exceeds this requirement, as illustrated by its CET1 ratio of 16% at the close of the fourth quarter of 2018.Johan Thijs, KBC Group CEO, had this to say: 'The ECB's decision reaffirms KBC's low risk profile and its resilience to adverse economic conditions. Our capital position is an extremely solid one and that sends out a reassuring signal to all stakeholders placing their trust in us.KBC will continue to pursue a policy of maintaining a dynamic buffer above the legally required minimum. That reflects a number of factors, including our attitude towards potentially adverse economic conditions, any new capital requirements and our position relative to our peers. We've set our 'own capital target' at 14% of CET1 and want to keep a flexible buffer of up to 2% of CET1 for potential mergers and acquisitions that would strengthen our position in our core markets. The aggregate figure of 16% of CET1 represents the ‘reference capital position’.We will also continue to concentrate on our sound fundamentals of having a dynamic client-driven bank-insurance business model, a healthy risk profile, a robust liquidity position supported by a very solid and loyal customer deposit base in our core markets, and a comfortable solvency position that enables us to continue to increase lending to our clients and actively support the communities and economies where we operate.’Full press release attached.Attachment * 20190218_pb_EBC_JCD_en
* European shares erase gains to close down 0.3 pct * German economy stalled in Q4 * U.S. retail sales post biggest drop in 9 years * Earnings in focus: Nestle, Airbus, AstraZeneca * Banks lead sectoral ...
* European shares set for fourth day of gains * German economy stalled in Q4 * Earnings in focus: Nestle, Airbus, AstraZeneca * Banks lead sectoral fallers Welcome to the home for real-time coverage of ...
Press Release Outside trading hours - Regulated information*Brussels, 14 February 2019 (07.00 a.m. CET)Fourth-quarter result of 621 million eurosWe generated a net profit of 621 million euros in the fourth quarter of 2018. This excellent result was due in part to higher levels of net interest income, an outstanding combined ratio in our non-life insurance activities and strict cost management. Adding this figure for the fourth quarter to the 1 948 million euros recorded in the first nine months of the year brings our result for full-year 2018 to a solid 2 570 million euros. This is in line with the 2 575 million euros recorded for full-year 2017. Lending increased by 5% year-on-year, as did deposits (excluding debt certificates and repos). Our solvency position remained strong. The common equity ratio amounted to 16% at the end of full-year 2018 after dividend distribution. The total (gross) dividend for 2018 of 3.5 euros per share (which will be proposed to the General Meeting of Shareholders in May) will result in a pay-out ratio of 59% for financial year 2018.As announced earlier, KBC Bank Ireland closed the sale of part of its legacy loan portfolio in the quarter under review, which significantly reduced its impaired loans ratio by 10 percentage points to 23%, and also decreased the group’s impaired loans ratio by one percentage point, leaving it at 4.3%. On the sustainability front, we strive to enhance the positive impact that our day-to-day operations have on society. We actively monitor our own ecological impact and offer a wide range of socially responsible investment opportunities. This resulted in an improved score as provided by third party sustainability analysts (such as Sustainalytics). We have a long tradition of communicating openly and transparently with all our stakeholders about sustainability. For example, as a member of the United Nations Environment Programme Finance Initiative (UNEP FI) we are set to become the first financial institution in Belgium to endorse the new guidelines on responsible banking, as announced in December. European economic conditions are generally solid, although the growth peak is behind us. Decreasing unemployment rates and growing labour shortages in some European economies combined with gradually rising wage inflation, will continue to support private consumption. Moreover, also investments will remain an important driver of growth. The main elements that could substantially impede European economic sentiment and growth remain the risk of further economic de-globalisation, including an escalation of trade conflicts, Brexit and political turmoil in some euro area countries.Ultimately, our goal is to finance and service the dreams of our clients, shareholders and other stakeholders, something which all our employees are committed to working towards. We are genuinely grateful for the trust our clients place in us and that encourages us even more to become the reference in bank-insurance in all our core countries. JohanThijs Chief Executive OfficerImportant. We have started applying IFRS 9 with effect from 2018. In simplified terms, this means that the classification of financial assets and liabilities, as well as the impairment methodology, have changed significantly. As a result, some of the income statement and balance sheet figures are not fully comparable with the 2017 reference figures (which are still based on IAS 39, as KBC is making use of transition relief for comparative data). To enhance transparency – and in line with IFRS 9 requirements – we have also moved accrued interest from FX derivatives in the banking book from ‘Trading and fair value income’ to ‘Net interest income’. We have also moved network income (i.e. revenue from margins earned on FX transactions carried out by the network for our customers) from ‘Trading and fair value income’ to ‘Net fee and commission income’. A concise overview is provided in the annex. Furthermore – on account of IFRS 9 and with effect from 2018 – we have changed the definition of our loan portfolio, switching from ‘outstanding amount’ to ‘gross carrying amount’ (i.e. including reserved and accrued interest), and slightly amended the scope. In order to enhance comparability, we have added certain comparisons with pro forma (restated and unaudited) figures for 2017 in the analysis below. When this is done, it is indicated by the words ‘on a comparable basis’.Full press release attachedAttachment * 4Q2018_pb_20190214_en
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! The big shareholder groups in KBC GroupRead More...
Ireland (Other OTC: IRLD - news) 's central bank expects to conclude some investigations of lenders who overcharged customers by the end of the year, as they identified another 1,400 mortgage holders due compensation, the regulator said on Monday. The industry-wide investigation concerns customers who should have been given the option of a cheaper "tracker" mortgage that follows the low European Central Bank rate or kept on a better rate. The Central Bank said banks had paid 647 million euros in redress by the end of 2018 to compensate the affected customers, who will number 39,800 once those identified since the end of August are included.
* Gains on STOXX fade * Trump commits to Xi meet to seal trade deal * Autos stocks, miners rise * Banks tumble as Caixabank, Sabadell results disappoint * Poor China manufacturing data, euro zone PMIs ...